posted on Aug, 26 2011 @ 08:59 PM
First things first. The reason we are in this mess is because congress doesn't know how to keep itself from spending money it doesn't have or start
reaching into other programs funds, such as Social Security, to fund other entitlement programs. Until congress can get control of it's spending then
no amount of tax increase is going to help the country because they are just going to spend whatever tax increase they legislate on other stupid stuff
like pig research or something.
Second, America has the 2nd highest business tax rate in the world. If they want a steady stream of income that grows with the economy, they need to
ditch NAFTA, impose import tariffs, ditch the current tax code, and implement a flat tax on consumption.
A flat tax on consumption at a rate of 25% with a GDP of 14 trillion dollars means the government would be pulling in 3.5 trillion dollars worth of
revenue. I really don't know why our governments(state and federal) would need more than 3 and half trillion dollars to spend. That equals out to
about 11 thousands dollars per person. More than enough to pay state employees and also have a decent safety net.
I forgot though, that makes too much sense. God forbid the government do something where they would actually pull in more money for helping keep a
productive and steady growth environment.
edit on 26-8-2011 by Timing because: (no reason given)